BSI partnered with Management Today to host a roundtable discussing the issue of trust and rebuilding trust in British business. A string of scandals has damaged the reputation of companies across a range of sectors, so we asked various industry figures for their comments on how trust can be restored.
Rebuilding Trust in British Business
Some of the key areas of discussion covered include:
- Whether trust will remain fragile and how distrust can become corrosive cynicism
- Reputational risks and legal requirements such as the UK Bribery Act
- Where organizations can have potential weak spots – corporate transparency, ethics and supply chain
- Strengths organizations have demonstrated – engagement of staff and how this is reflected through to consumer touch points
- The impact leadership and their adopted business models have on an organization.
BSI - Helping businesses build trust
BSI knows from experience how an organization can demonstrate trust to its stakeholders. We also know this will vary depending on its industry and needs of the individual business.
Many of our 70,000 clients do this by adopting standards and being independently assessed against them. This external verification allows them to show they have implemented best practice at every level of their organization with confidence, helping build corporate reputation and trust.
For many they will want to demonstrate commercial performance; for some it will denote effective management and mitigation of business risk including their supply chain; for others it will involve delivering sustainable growth; or it might be to show their products are safe to bring to market. It could also be a combination of the above..